Are you in need of withdrawing money from your bank account but cannot do it personally? Don’t worry! With an authorization letter, you can allow someone else to do it for you. Here’s a sample of authorization letter to withdraw money from the bank and some tips to guide you in writing one.
An authorization letter is a legal document that allows someone to act on your behalf. It is commonly used when the account owner cannot perform the transaction in person. The letter should be addressed to the bank manager and must contain important details such as the name of the authorized person, amount to be withdrawn, and the purpose of the transaction.
You can find below different examples of authorization letters to withdraw money from the bank. You can use them as guides and edit them as needed.
Tips for Writing an Authorization Letter
1. Use a formal tone of voice and include the date, your full name, and account number
2. Be specific about the purpose of the transaction
3. Include the name and identification details of the authorized person
4. Make sure to sign the letter and have it notarized
5. Keep a copy of the letter for your records
Examples of Authorization Letter to Withdraw Money from the Bank
Authorization Letter for Medical Expenses
Dear Sir/Madam,
I, [Your Name], would like to authorize [Authorized Person’s Name] to withdraw [$Amount] from my bank account [Account Number] for medical expenses.
Thank you.
Sincerely,
[Your Signature]
Authorization Letter for Travel Expenses
Dear Bank Manager,
This letter is to authorize [Authorized Person’s Name] to withdraw [$Amount] from my bank account [Account Number] for travel expenses. The purpose of the travel is [Purpose of the Travel].
Thank you for your prompt attention to this matter.
Best regards,
[Your Signature]
Authorization Letter for Business Transaction
Dear [Bank Manager’s Name],
I, [Your Name], would like to authorize [Authorized Person’s Name] to withdraw [$Amount] from my account [Account Number] for a business transaction. The purpose of this transaction is [Purpose of the Transaction].
Thank you for your assistance.
Sincerely,
[Your Signature]
Authorization Letter for Education Expenses
To Whom It May Concern,
I, [Your Name], would like to authorize [Authorized Person’s Name] to withdraw [$Amount] from my bank account [Account Number] for education expenses. The purpose of this withdrawal is [Purpose of the Withdrawal].
Thank you.
Best regards,
[Your Signature]
Authorization Letter for Household Expenses
Dear [Bank Manager’s Name],
I, [Your Name], would like to authorize [Authorized Person’s Name] to withdraw [$Amount] from my bank account [Account Number] for household expenses. The purpose of this transaction is [Purpose of the Transaction].
Thank you for your cooperation.
Sincerely,
[Your Signature]
Authorization Letter for Car Repair Expenses
Dear Sir/Madam,
This letter is to authorize [Authorized Person’s Name] to withdraw [$Amount] from my account [Account Number] for car repair expenses. The purpose of this withdrawal is [Purpose of the Withdrawal].
Thank you for your assistance.
Best regards,
[Your Signature]
Frequently Asked Questions
Can I authorize someone else to withdraw money from my bank account?
Yes, you can. You just need to write an authorization letter addressed to the bank manager and include important details such as the name of the authorized person, amount to be withdrawn, and the purpose of the transaction.
Do I need to have my authorization letter notarized?
It is not always required, but it is highly recommended. Having your authorization letter notarized adds an extra layer of security and ensures that your account is protected from any unauthorized transactions.
What should I do if the authorized person misused the money withdrawn from my account?
If this happens, you should immediately report it to your bank and provide them with a copy of the authorization letter. Your bank will investigate the matter and take appropriate action if necessary.
Can I withdraw money from my bank account using a photocopy of the authorization letter?
No, you can’t. The bank will require the original copy of the authorization letter before they process any transaction. This is to ensure that the letter is authentic and not a fraudulent document.
How many times can I use an authorization letter?
An authorization letter is typically valid for a one-time transaction only. If you need to authorize someone else to perform another transaction, you will need to write a new authorization letter.
Can I cancel an authorization letter?
Yes, you can. You just need to inform your bank in writing that you are revoking the authorization letter. Make sure to provide them with a copy of the original authorization letter and a valid ID.
Conclusion
Writing an authorization letter to withdraw money from the bank can be a straightforward process as long as you include all the necessary details such as the name of the authorized person, amount to be withdrawn, and the purpose of the transaction. Remember to keep a copy of the letter for your records and follow the tips provided to ensure that your letter is valid and legally binding.